Research Desk Line-up: Mettler-Toledo Intl. Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 13, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Baxter International Inc. (NYSE: BAX) ("Baxter"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=BAX, following the Company's announcement of its financial results on October 25, 2017, for the third quarter of the fiscal year 2017. The renal and hospital products manufacturer exceeded revenue estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
Get more of our free earnings reports coverage from other constituents of the Medical Instruments & Supplies industry. Pro-TD has currently selected Mettler-Toledo International Inc. (NYSE: MTD) for due-diligence and potential coverage as the Company announced on November 02, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Mettler-Toledo Intl. when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BAX; also brushing on MTD. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=BAX
http://protraderdaily.com/optin/'symbol=MTD
Earnings Reviewed
Baxter's total worldwide revenue increased to $2.71 billion for Q3 FY17 compared to $2.56 billion for Q3 FY16; a 5.86% positive change on a y-o-y basis. The domestic, or US based, revenue amounted to $1.1 billion while the revenue generated from the international market amounted to $1.6 billion in the reported quarter. The Company's revenue beat its estimates of $2.66 billion.
Baxter's cost of sales amounted to $1.58 billion for Q3 FY17 compared to $1.49 billion in Q3 FY16. The Company's gross margin increased 5.61% to $1.13 billion from $1.07 billion in Q3 FY16.
The adjusted operating margin was 16.30% for the reported quarter, up 30 basis points from 16.0% recorded in Q3 FY16.
Baxter's operating income amounted to $292.00 million in Q3 FY17 compared to $186.00 million in Q3 FY16, a 57% positive change on a y-o-y basis. The reported quarter's solid performance was attributed to sales of $27.00 million generated from Claris Injectables, which the Company had acquired in July 2017, and which allowed the Company to widen its presence in the pharmaceuticals market. Also, in the reported quarter, the Company incurred lower marketing and administrative expenses, and research and development expenses. Income from continuing operations grew 93.75% to $248.00 million in Q3 FY17 compared to $128.00 million on a y-o-y basis.
Baxter posted net income of $251 million in Q3 FY17, a 93.08% increase from $130.00 million in Q3 FY16. The Company's net income per share was $0.45 in the reported quarter, up 96% compared to $0.23 on a y-o-y basis. The Company generated adjusted earnings of $0.64 per diluted share in Q3 FY17, increasing 14% from $0.56 per diluted share in Q3 FY16.
The Company achieved strong results due to good contributions from its current transformation efforts.
Segment Details
Baxter has five major segments, namely: (i) Fluid Systems; (ii) Integrated Pharmacy Solutions; (iii) Surgical Care; (iv) Hospital Products; and (v) Renal Products.
In Q3 FY17, the total sales amounted to $610 million for the Fluid Systems segment; $627 million for the Integrated Pharmacy Solutions segment; and $338 million for the Surgical Care segment. The Company's Hospital Products segment's sales totaled $1.70 billion in Q3 FY17, advancing 7% on both reported basis and constant currency basis, and 6% operationally, compared to the prior year's same period. The Company's Renal Products segment's sales amounted to $1.01 billion in the reported quarter, an increase of 3% on both reported basis and constant currency basis.
Cash Matters
Baxter posted free cash flow from continuing operations of $933.00 million for the period ending September 30, 2017, versus $419.00 million for the comparable period of the previous fiscal year. The Company is aiming to target a dividend payout ratio of approximately 35%, and repurchased share selectively worth $180.00 million in Q3 FY17.
Outlook
Baxter was able to achieve a strong operational outcome and a lower capital expenditure. For the full-year 2017, the Company expects sales to rise approximately 4%, and estimates operating cash flows of $1.85 billion and free cash flows of around $1.2 billion. Baxter is expecting earnings from continuing operations, before special items, to be $2.40 to $2.43 per diluted share.
Stock Performance
On Friday, November 10, 2017, the stock closed the trading session at $64.04, slipping 2.06% from its previous closing price of $65.39. A total volume of 4.10 million shares have exchanged hands, which was higher than the 3-month average volume of 2.22 million shares. Baxter Intl.'s stock price soared 6.33% in the last three months, 12.95% in the past six months, and 33.86% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 44.43%. The stock is trading at a PE ratio of 34.54 and has a dividend yield of 1.00%. At Friday's closing price, the stock's net capitalization stands at $35.63 billion.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
